The selloff looks underway for NZDUSD but we have the reverse view and look to sell into rallies
Monthly: Trading in a congestion zone. This month will likely post an indecisive .
Weekly: A possible . Levels above the resistance at 0.7350 continue to attract sellers.
Intraday (four-hours) – Opposite reaction to the USD. We have stalled at The 161.8% extension of 0.7184 (from 0.7433-0.7279). If price action is forming a pattern, then we are in the 4th wave correction higher. Common correction levels are 23.6 and 38.2% of the last wave. Bespoke resistance is located at 0.7258. this is close to the 38.2% level of 0.7268. This is our prime area for short entry.